Lansing Sun

The recently held Governor’s State of Small Business Summit aspired to cultivate more avenues for the state’s small businesses to thrive, because they are crucial to Michigan’s economy.

The Michigan Economic Development Corporation (MEDC) spearheaded the meeting that brought together parties interested in participating in lending their ideas to draft a comprehensive strategy for small business investment, a recent press release from the governor’s office said.

“Our small businesses are the backbone of our nation’s economy, and here in Michigan, we’re committed to doing all we can to provide the support, resources and opportunities they need to grow and thrive,” Quentin L. Messer Jr., CEO of MEDC, said in the release. “We’re grateful to Gov. Whitmer, Lt. Gov. Gilchrist, the legislature and our partners who work tirelessly to champion our small businesses. No business is small to the risk-taking owners who sacrifice to employ neighbors and friends. We look forward to building on this progress over the coming year as we continue to elevate small businesses throughout Michigan.”

The summit showcased data-driven speeches from state leaders and industry insiders concerning the state’s economic prospects and recovery tendencies among small businesses, the release said.

“Our economic development stakeholders play a vital role on Team Michigan, serving as the voice of entrepreneurs and small businesses in the state, as well as deploying resources through inclusive efforts and a desire to support a robust small business ecosystem,” Lt. Gov. Garlin Gilchrist said in the release. “We remain laser-focused on ensuring we work hand-in-hand with our ecosystem partners to continue driving meaningful conversations around programming that will impact microenterprises and small businesses across Michigan.”

The meeting built on the recent momentum of the state being approved for up to $236,990,950 through the U.S. Department of Treasury’s State Small Business Credit Initiative, which is intended to stimulate small businesses—especially in underserved areas—as the economy opens back up from the pandemic.

“Michigan is committed to leading the way in efforts that help all small businesses, the communities they serve and the people they employ to thrive,” Susan Corbin, director of the Michigan Department of Labor and Economic Opportunity, said in the release. “This summit is another example of how government and small business stakeholders can come together to develop strategic partnerships and deliver innovative solutions that create significant, lasting impacts.”